President Donald Trump is hosting Argentina's President Javier Milei at the White House Tuesday, days after the U.S. extended his country a $20 billion bailout.
Experts see two objectives for Milei's White House visit. One is to negotiate U.S. tariff exemptions for Argentine products.
The other is determine how the U.S. will implement the $20 billion currency swap line to replenish Argentina's depleted currency reserves ahead of the country's crucial midterm elections this month.
The Trump administration made a highly unusual decision to intervene in Argentina’s currency market after Milei's party suffered a landslide loss in a local election last month.
Along with setbacks in the opposition-dominated Congress, the party's crushing defeat created a crisis of confidence as voters in Buenos Aires Province registered their frustration with rising unemployment, contracting economic activity and brewing corruption scandals.